PTC (NASDAQ:PTC) Cut to “Peer Perform” at Wolfe Research

Wolfe Research lowered shares of PTC (NASDAQ:PTC) from an outperform rating to a peer perform rating in a report published on Thursday, Marketbeat Ratings reports.

Other equities analysts have also recently issued research reports about the company. Barclays cut PTC from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $155.00 to $205.00 in a report on Monday, October 5th. Deutsche Bank lowered PTC to a “hold” rating and set a $205.00 target price on the stock. in a research note on Monday, October 5th. Robert W. Baird downgraded PTC from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. KeyCorp downgraded PTC from an “overweight” rating to a “sector weight” rating in a research report on Monday, October 5th. Finally, Stifel Nicolaus set a $205.00 target price on shares of PTC in a research note on Monday, October 5th. Two investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, PTC has a consensus rating of “Hold” and an average target price of $200.06.

PTC Trading Down 0.1%

NASDAQ:PTC traded down $0.25 during mid-day trading on Thursday, hitting $196.00. 826,996 shares of the stock traded hands, compared to its average volume of 1,941,267. The company has a quick ratio of 1.03, a current ratio of 1.63 and a debt-to-equity ratio of 0.47. PTC has a 52 week low of $108.50 and a 52 week high of $196.79. The stock has a market capitalization of $21.27 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 2.58 and a beta of 0.93. The firm’s 50 day moving average is $171.30 and its two-hundred day moving average is $148.92.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, November 4th. The technology company reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.06. PTC had a net margin of 37.80% and a return on equity of 20.03%. The business had revenue of $673.25 million during the quarter, compared to the consensus estimate of $663.56 million. During the same quarter last year, the firm earned $3.41 earnings per share. The firm’s quarterly revenue was down 24.7% compared to the same quarter last year. On average, equities research analysts predict that PTC will post 7.12 earnings per share for the current year.

Insider Buying and Selling

In other PTC news, Director Corinna Lathan sold 1,750 shares of the company’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $195.75, for a total transaction of $342,562.50. Following the completion of the sale, the director owned 6,679 shares in the company, valued at $1,307,414.25. This represents a 20.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PTC. State Street Corp boosted its position in PTC by 10.2% during the second quarter. State Street Corp now owns 6,452,323 shares of the technology company’s stock valued at $733,048,000 after purchasing an additional 596,955 shares in the last quarter. Jupiter Topco LLC bought a new stake in shares of PTC in the 2nd quarter valued at about $418,553,000. Janus Henderson Group PLC boosted its holdings in shares of PTC by 0.3% in the 1st quarter. Janus Henderson Group PLC now owns 3,530,070 shares of the technology company’s stock valued at $503,000,000 after buying an additional 11,278 shares in the last quarter. Amundi grew its position in shares of PTC by 151.9% in the 1st quarter. Amundi now owns 1,725,555 shares of the technology company’s stock worth $245,885,000 after buying an additional 1,040,656 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of PTC by 52.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,228,905 shares of the technology company’s stock worth $172,415,000 after buying an additional 423,096 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

About PTC

PTC Inc. develops software that helps manufacturers design, build, operate and service products. Its offerings support computer-aided design (CAD), product lifecycle management (PLM), application lifecycle management and industrial connectivity, helping companies manage product data and coordinate work across engineering and manufacturing. PTC’s products include Creo for 3D CAD, Windchill for PLM, Codebeamer for application lifecycle management, and ThingWorx for industrial connectivity and application development.